GBP/CAD had a great fakeout last Thursday. The daily chart looked like it was breaking to the upside. The Canadian jobs report came in on Friday and smashed those dreams (and this is post a Ivey PMI that came in on fire @ 62.5). With oil holding steady, this is one of my high-conviction trades right now.
I'm looking for the UK election gap to fill on this pair, which means around 500 pips and hitting the 61-78% retracement zone of the current rally.
Other item to consider: UK Services PMI came in pretty weak last week
I'm looking for the UK election gap to fill on this pair, which means around 500 pips and hitting the 61-78% retracement zone of the current rally.
Other item to consider: UK Services PMI came in pretty weak last week